Class 11 Internship at a CA firm

Posted by on Jun 21, 2019 in School News | Comments Off

Bhumika Juneja, Shivangi Sharma, Twisha Kacker and Mohak Gupta of class XI (commerce section) were accorded an opportunity to intern at a chartered accountancy firm at Rajendra Place from 27 to 29 June 2019. The resourceful three-day internship was filled with learning activities and tasks. The young learners were introduced to new topics, as well as, the application of their academic syllabus in real life situations. They discerned its importance in the functioning of a firm.

On the first day, Mr Akshat Maheshwari, a practising CA, gave a brief introduction to the work of a charted accountant the various probable career options available within being one. The presentation was followed by an interesting activity based on the stock exchange where the interns learnt about listed companies, their stock prices and how to apply Excel to calculate fluctuation, yield, risk/profit-loss% and to analyse the safest investment options. It was an engaging and enlighting activity.

 

The exercises on the second day of the internship were more school curriculum related. The students came to know about the practical usage of journal entries and also learnt how to prepare a profit /loss account and a balance sheet in a real life business.

The third and last day of the internship was based on income tax returns. It was again a very interesting and informative day. The young students of commerce acquired knowledge of the different aspects of calculating ITR, the different tax slabs, depreciation, capital gains, profit and loss account and deductions( charity, education, health, etc). They learnt how every entry in business has a double effect and how it is shown on the ITR.

The three-day internship saw the future entrepreneurs/ CAs work with their peers in a real office environment and gain a lot of practical knowledge. All in all, it opened a window into the real world of commerce for these students.

Twisha Kacker XI-E

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